358,023 Reasons to Consider Selling Tesla Stock Here

Recently, Tesla (TSLA) reported its first-quarter production and delivery figures. The company’s production for the quarter totaled 408,386 units, up 12.6% year-over-year (YOY). Model 3/Y production stood at 394,611 units. However, investors did not take kindly to the numbers, as the stock dropped 5.4% intraday on Apr. 2. The quarterly delivery figure of 358,023 units, although underscoring a 6.3% YOY increase, fell short of the 365,000 consensus estimate.

Tesla’s electric vehicle (EV) business has come under pressure as the company shifts its focus to energy storage offerings, Cybercab, and Optimus. Moreover, the pullback of the $7,500 federal tax credit has likely affected affordability for Tesla customers, while competition intensifies in the industry.